Ageing populations around the world heighten need for retirement planning
An increase in longevity rates around the world is certainly something to be celebrated. Average global life expectancy has increased to 71.5 years in 2013—up from 65.3 years in 1990—due to factors including improvements in health care and a decline in deaths from childhood diseases in developing countries.1 But in many parts of the world, ageing populations have become an economic and a political issue as fewer workers now need to support larger pools of dependents. Nations with more mature populations typically require increased social services, including health care, which can not only dent government budgets but also the budgets of many individuals without financial safety nets and/or adequate personal savings.